Deutsche Bank Aktiengesellschaft (NYSE:DB – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports. The firm currently has a $11.50 price objective on the bank’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 20.17% from the company’s previous close.
According to Zacks, “On the NYSE, shares of Deutsche Bank have underperformed the industry over the past month. First-quarter results benefited from higher net revenues and lower expenses. The company completed its €3 billion share buyback program in April. Cost-reduction initiatives are expected to help it achieve cost/income ratio target of 70% by 2022. Also, gradually improving economy will drive Deutsche Bank’s deposit growth while exiting nonstrategic businesses and assets will strengthen capital ratios. However, low interest rates will keep margins under pressure. Also, litigation issues due to past misconducts can lead to higher legal costs in the near term, and remain a concern for Deutsche Bank. Nonetheless, given the company’s sound liquidity position, it is less likely to default interest and debt repayments if the economic situation worsens.”
Other equities research analysts have also recently issued reports about the stock. Morgan Stanley set a €14.90 ($15.68) price objective on shares of Deutsche Bank Aktiengesellschaft in a research note on Friday, April 22nd. Citigroup upgraded shares of Deutsche Bank Aktiengesellschaft from a “sell” rating to a “neutral” rating in a report on Friday, March 11th. Berenberg Bank upgraded shares of Deutsche Bank Aktiengesellschaft from a “sell” rating to a “hold” rating in a report on Monday, March 14th. JPMorgan Chase & Co. boosted their target price on shares of Deutsche Bank Aktiengesellschaft from €14.00 ($14.74) to €15.00 ($15.79) and gave the stock an “overweight” rating in a research report on Friday, April 1st. Finally, The Goldman Sachs Group initiated coverage on shares of Deutsche Bank Aktiengesellschaft in a research note on Wednesday, March 30th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $13.81.
Deutsche Bank Aktiengesellschaft (NYSE:DB – Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The bank reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.13. The firm had revenue of $8.22 billion during the quarter, compared to analysts’ expectations of $7.55 billion. Deutsche Bank Aktiengesellschaft had a net margin of 8.07% and a return on equity of 4.27%. As a group, sell-side analysts predict that Deutsche Bank Aktiengesellschaft will post 1.88 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Research Global Investors raised its holdings in Deutsche Bank Aktiengesellschaft by 16.4% during the 4th quarter. Capital Research Global Investors now owns 119,867,976 shares of the bank’s stock valued at $1,503,617,000 after acquiring an additional 16,896,929 shares during the period. Vanguard Group Inc. grew its position in Deutsche Bank Aktiengesellschaft by 3.1% in the first quarter. Vanguard Group Inc. now owns 71,052,394 shares of the bank’s stock worth $898,813,000 after acquiring an additional 2,166,479 shares in the last quarter. Norges Bank purchased a new position in Deutsche Bank Aktiengesellschaft in the fourth quarter worth $612,015,000. Deutsche Bank AG grew its position in Deutsche Bank Aktiengesellschaft by 5.9% in the fourth quarter. Deutsche Bank AG now owns 31,522,875 shares of the bank’s stock worth $394,036,000 after acquiring an additional 1,747,365 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Deutsche Bank Aktiengesellschaft during the first quarter valued at about $279,319,000.
Deutsche Bank Aktiengesellschaft Company Profile (Get Rating)
Deutsche Bank Aktiengesellschaft provides investment, financial, and related products and services to private individuals, corporate entities, and institutional clients worldwide. Its Corporate Bank segment provides cash management, trade finance and lending, trust and agency, foreign exchange, and securities services, as well as risk management solutions.
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